Hyundai Motor Plans Pakistan Venture With Billionaire Mansha
- Mansha’s Nishat Mills signs agreement with Hyundai Motor
- Suzuki also plans to invest $460 million on a second plant
Hyundai vehicles sit parked at a delivery center at the company's factory in this aerial photograph taken in Asan, South Korea.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Hyundai Motor Co.., South Korea’s biggest automaker, plans to partner with billionaire Mohammad Mian Mansha’s Nishat Mills Ltd. to start assembling cars in Pakistan as vehicle sales accelerate in the $271 billion economy.
Nishat Mills’ venture, which includes Hyundai and Sojitz Corp., will assemble passenger and one-ton commercial vehicles in Pakistan, the company said in a stock exchange filing in Karachi on Friday. Nishat wants to finalize the agreement after a feasibility study within four months, Norez Abdullah, an adviser to Nishat’s automobile and power division, said by phone from Lahore.